According to the Shanghai Metals Market, A00 aluminium ingot price has recorded a sharp downfall of RMB 290 per tonne, the highest since August, to stand at RMB 14,270 per tonne on Thursday, September 24. The average prices are expected to range between RMB 14,250 per tonne and RMB 14,290 per tonne, with spot contract to be traded at a premium price of RMB 210-250 per tonne, up by RMB 110 per tonne from the previous day.

SMM believes the change in consumption pattern has affected the aluminium ingot price trend. The consumptions of aluminium in September remained slightly weaker than expectations. Besides, the output has increased with the ramp-up or resumption of production capacity in Sichuan, Yunnan and Inner Mongolia. So, as of mid-September, the domestic primary aluminium operation capacity rose to 37.8 million tonnes per year, and the built capacity stood at 42.9 million tonnes per year.

In Foshan today, A00 aluminium ingot price has plunged the maximum by RMB 340 per tonne to RMB 14,390 per tonne, followed by Chongqing and Wuxi, where the price has decreased by RMB 290 per tonne and RMB 265 per tonne, respectively, to stand at RMB 14,290 per tonne. In Gongyi and Tianjin, primary aluminium ingot price has declined by RMB 260 per tonne to come in at RMB 14,190 per tonne and RMB 14,310 per tonne, respectively. In Linyi, Hangzhou, and Shenyang, the price has plummeted by RMB 240 per tonne, RMB 230 per tonne, and RMB 220 per tonne to stand at RMB 14,400 per tonne, RMB 14,350 per tonne, and RMB 14,330 per tonne.

The price of aluminium alloy (A356) has fallen by RMB 300 per tonne to RMB 14,850 per tonne. The average prices are expected to range between RMB 14,800 per tonne and RMB 14,900 per tonne. However, the prices of aluminium alloys (ADC12) and aluminium alloy (A380) have remained restrained at RMB 14,800 per tonne and RMB 15,700 per tonne, respectively.

As far as aluminium input costs are concerned, none except aluminium powder has recorded a change. The price of aluminium powder has dwindled by RMB 0.30 per kg from RMB 18.15 per kg to RMB 17.85 per kg.